Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Here is financial information for Vaughn Inc. Here is financial information for Vaughn Inc. December 31, 2022 December 31, 2021 Current assets $124,600 $100,000 Plant
Here is financial information for Vaughn Inc.
Here is financial information for Vaughn Inc. December 31, 2022 December 31, 2021 Current assets $124,600 $100,000 Plant assets (net) 395,010 330,000 Current liabilities 88,111 73,000 Long-term liabilities 135,198 87,000 Common stock, $1 par 166,838 119,000 Retained earnings 129,463 151,000 Prepare a schedule showing a horizontal analysis for 2022, using 2021 as the base year. (Enter negative amounts and percentages using either a negative sign preceding the number e.g. -45, -45% or parentheses e.g. (45), (45%). Round percentages to 1 decimal place, e.g. 12.3%.) Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $124,600 $100,000 $ % Plant assets (net) 395,010 330,000 % Total assets $519,610 $430,000 $ % Liabilities Current liabilities $88,111 $73,000 $ % Long-term liabilities 135,198 87,000 % Total liabilities 223,309 160,000 % Stockholders' Equity Common stock, $1 par 166,838 119,000 % Retained earnings 129,463 151,000 % Total stockholders' equity 296,301 270,000 % Total liabilities and stockholders' equity $519,610 $430,000 $ %Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started